UAE and Egypt sign agreement to advance $10bn wind project – The National
- Date: 07-Jun-2023
- Source: The National
- Sector:Real Estate
- Country:UAE
UAE and Egypt sign agreement to advance $10bn wind project – The National
A group of companies, including Abu Dhabi’s Masdar, have signed an agreement with Egypt’s New and Renewable Energy Authority to secure land for a $10 billion wind farm.
Masdar, Egypt's Infinity Power and Hassan Allam Utilities signed an agreement last year to develop the 10-gigawatt project, which is expected to save the North African country $5 billion in annual natural gas costs once operational.
The wind farm will produce 47,790 gigawatt hours of clean energy annually and offset 23.8 million tonnes of carbon dioxide emissions.
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